Here's How You Know Apple Is Killing It

Shares of Broadcom (AVGO) are up about 2% Thursday, after the company beat on fiscal fourth-quarter earnings per share and revenue expectations.

While the stock is off its highs, it sends a good message to investors. Specifically, it says that the data center business and demand for Apple's (AAPL) new iPhone remain strong, TheStreet's Jim Cramer said on CNBC's "Mad Dash" segment.

If the technology sector rallies Thursday -- which it is, with the PowerShares QQQ ETF (QQQ) up 0.55% -- investors can likely thank Broadcom. Doubts were beginning to mount about the iPhone not having very robust demand and whether the data center business was topping out.

Given that Broadcom is one of the largest iPhone suppliers -- behind Qualcomm (QCOM) , which Broadcom is trying to buy -- a strong business suggests demand is more than OK, Cramer reasoned.

In fact, "business is booming" Broadcom, which is a great sign. The company generates so much cash it's able to make acquisitions, like its recent closing of Brocade, and boost its dividend by a whopping 72%.